Charity Tries to Foster Female Millionaires

The nonprofit “Make Mine a $Million Business” program awards 20 woman-owned businesses each year with financial support, educational programs, and advice, reports BusinessWeek. The program’s goal is to create one million woman-owned businesses earning $1 million in revenue by 2010.

The effort is sponsored by Count-Me-In for Women’s Economic Independence, a New York nonprofit group, and OPEN, the small-business division of American Express.

“It seemed egregious that so few women were over the million-dollar mark,” says Lexi Reese, director of advocacy marketing for OPEN. “If we can get a million women to the million-dollar revenue mark by 2010, we’re going to be contributing $700-million in revenue to the economy and four million new jobs.”